Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Read the fictitious scenario and answer the questions that follow: Tebogo is a homeowner who decides to lease her property to a lessee, Alex, for

Read the fictitious scenario and answer the questions that follow:
Tebogo is a homeowner who decides to lease her property to a lessee, Alex, for a
period of two years (January 2023 December 2024). They sign a lease agreement
that outlines the terms and conditions of the lease agreement, including rent amount,
duration, and permitted uses of the property. The agreement outlines that Alex will
pay the rental amount of R10000 by means of Electronic Fund Transfer (EFT) into
Tebogos bank account.
In May 2024, Alex stopped paying his rent due to his new gambling addiction.
Tebogo has reached out several times for payment, but Alex has not responded to
any of her communications. Alex has missed several payments, and in August 2024,
Tebogo approached you, an expert in lease agreements, for advice.
Required:
2.1. Define a contract of lease. (6 marks)
2.2. Discuss and determine whether Alexs failure to pay his rent amounts to a
breach of contract. (6 marks)
2.3. Discuss the applicable remedy that is available to Tebogo as the lessor of the
property and apply it to the facts. (10 marks)
Note to students:
Try to mention only the relevant information. Scenario questions require
you to apply the legal principles where applicable.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay

7th edition

132928930, 978-0132928939

More Books

Students also viewed these Accounting questions

Question

Work with the news media.

Answered: 1 week ago

Question

What is Selenium? What are the advantages of Selenium?

Answered: 1 week ago

Question

Explain the various collection policies in receivables management.

Answered: 1 week ago

Question

What are the main objectives of Inventory ?

Answered: 1 week ago